MIRA INFORM
REPORT
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Report Date : |
25.01.2011 |
IDENTIFICATION DETAILS
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Name : |
LAGCY TRADING LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
26.09.1996 |
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Com. Reg. No.: |
69185, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale and retail of readymade garments, textiles, footwear, jewellery, perfumes and cosmetics |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : LAGCY TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 26th September 1996
Commercial Registration Number : 69185,
Trade Licence Number : 243532
Chamber Membership Number : 40476
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Wholesale and retail of readymade garments, textiles, footwear,
jewellery, perfumes and cosmetics
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Sudhakar Vidyahar Sardhar, General Manager
COMPANY NAME
LAGCY TRADING LLC
company ADDRESS
Registered & Physical Address
Building :
Street :
Area : Murshid Bazaar, Al Bateen,
Deira
PO Box : 42493
Town :
Country :
Telephone : (971-4) 2257764
Facsimile : (971-4) 2252264 / 2257059
Email : lagcy@emirates.net.ae
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Brid
Vidyahar Sardhar Indian Managing
Director
·
Mohamed
Essa Mohamed Essa Al Marri Emirati Director
·
Sudhakar
Vidyahar Sardhar Indian General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 26th
September 1996
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 69185,
Trade Licence No. : 243532 (Expires
25/09/2011)
Chamber Member No. : 40476
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Mohamed
Essa Mohamed Essa Al Marri 51%
·
Brid
Vidyahar Sardhar 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of
readymade garments, textiles, footwear, jewellery, perfumes and cosmetics.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 3 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/08: Year
Ending 31/12/09:
Total Sales UAE Dh 7,000,000 UAE Dh 6,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Sudhakar Vidyahar Sardhar, General Manager.
BANKERS
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Commercial
Bank of
Deira
PO Box: 1709
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction October
2007
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
GENERAL COMMENTS
Established in
1996, subject is owned and managed by Mr Brid Vidyahar Sardhar, an Indian
national who operates in
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.58 |
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1 |
Rs.72.79 |
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Euro |
1 |
Rs.62.01 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.